Form 322 (State Form 49568) Application for Deduction From Assessment on Rehabilitated Dwellings - Indiana

What Is Form 322 (State Form 49568)?

This is a legal form that was released by the Indiana Department of Local Government Finance - a government authority operating within Indiana. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 322?A: Form 322 is the Application for Deduction From Assessment on Rehabilitated Dwellings in Indiana.

Q: What is the purpose of Form 322?A: The purpose of Form 322 is to apply for a deduction from assessment on rehabilitated dwellings in Indiana.

Q: What information is required on Form 322?A: Form 322 requires information about the property owner, property address, rehabilitation details, and financing information.

Q: Is there a deadline to submit Form 322?A: Yes, Form 322 must be submitted to the county auditor by January 5th of the year in which the deduction is claimed.

Q: What are the eligibility requirements for the deduction?A: To be eligible for the deduction, the dwelling must have been rehabilitated and the assessed value of the property must have increased by at least 25% due to the rehabilitation.

Q: How long does the deduction last?A: The deduction lasts for a period of 10 years. After that, the property reverts to its full assessed value.

Q: Is there a fee to apply for the deduction?A: There is no fee to apply for the deduction.

Q: Can I apply for the deduction if I am a renter?A: No, the deduction is only available to property owners.